The government can never run out of money.

Government can print money until the cows come home. It'll be worthless, however.

 

The nations failed, but gold and silver never have.

 

Gold and silver are not a lot different from fiat money.

They have no real value of their own. Their value lies in the BELIEF that they have value...not unlike paper dollars.

 

Then, neither did fiat money as collectibles.

 

Except for the fact that gold and silver are based on voluntary usage and have lasted thousands of years.

They have value as measuring sticks.

USD's value is derived entirely from its status as a taxable instrument.

In other words, our tax liabilities are denominated and payable in USD.

 

I asked questions anyone working in the US would know the answers to.
Please, share your insight with me.
Maybe you have knowledge and understanding I lack.
Enlighten me.

 

All that can be said of gold as well.

If you choose not to "volunteer" to be part of the "fiat money system" by all means use barter or gold.

 

No, you cannot say that about gold.

Your tax bill can only be paid in USD.

That is where the USD derives its value.

And taxes are not voluntary.

 

You mean you can't convert gold to dollars any more?

Last I heard that was very common

I suspect that if you find some like minded individuals who are willing to pay you in gold...you won't have much of a tax bill to concern yourself with.

 

How does that change the fact that tax bills are payable only in USD?

Oh right.

It doesn't.

 

How does paying your taxes in dollars affect anything?

 

Ask the several States, they can coin as much commodity money as they want.

 

Thanks for throwing in the non-sequitor.

Mind telling us what point (that isn't related to what was being talked about) you're making?

 

If the hard money crowd did more than just talk; at least some States would have hard money. the fact that they don't, means the right is just full of (monetary) fantasy.

 

I've been trying to. You're just not getting it. So this is why I'm laughing... and semi mocking you.

1) You say that the government is completely dependent on the private sector to fund them
2) I ask you where the private sector gets money from to fund the government
3) You start going in to all sorts of transactions that involve money that already exists.
4) I continue to ask where that money comes from
5) You continue to keep talking about transactions involving money that already exists.
6) Repeat 4-5 many times

So I'll ask again. If you and I can't create money... where do we get trillions of dollars to fund the government? I know the answer, I just want to see if you can get a light bulb to go off and figure it out yourself.

 

Oh, enlighten me, great one. I beg of you.

 

From the government. So truthfully, the government has to fund us first before we can fund them. If you think about it logically it makes sense.

 

Sometimes you just have to live and learn...

 

Agreed

 

Taxes are mandatory and you can only pay them in USD.

So making tax bills payable only in USD is what gives the USD its value.

What is confusing about this?

 

While it's true that it does have something to do with the value of the dollar...there's a lot more to it than that.

Like international trade

 

In order to understand his point about taxes forcing a nation to use a currency you must think back to the beginning when the government created one single currency. Then it all flows from there. Today, the bitcoin tried to encroach upon soveriegn currencies but failed because it was not supported by a central bank and you could not buy much with it.

 

Nobody would use USD if it weren't for government rules that grant it an effective monopoly.

That's why they have those rules in the first place, because the political class realizes the USD would not be competitive in a free market.

Granted, Bitcoin has not come close to displacing government FIAT money, but it's only been around for a few years.

Compared to where it was when it first started, though, it's growth has been pretty impressive.

 

Bitcoin, lmao!!! I remember when Austrians were going crazy about Bitcoin taking over the world of fiat money. I laughed at their tulip theory then and still laughing at it now. The only use for Bitcoin these days is for illegal transactions buying drugs, weapons, or gambling, lol.

 

Well you'd be wrong.

The value of the US Dollar is backed the GDP and all foreign US Dollar-denominated transactions. Too many US Dollars in circulation creates Monetary Inflation, while too few result in Monetary Deflation.